Flow Meters Market Size, Share, and Trends 2024 to 2034

Flow Meters Market Size and Forecast 2024 to 2034

The global flow meters market size is expected to be valued at USD 12.15 billion in 2024 and is anticipated to reach around USD 27.97 billion by 2034, expanding at a CAGR of 8.7% over the forecast period from 2024 to 2034.

Flow Meters Market Key Takeaways

• Europe dominated the global market with the highest market share of 33% in 2023.
• Asia-Pacific is expected to expand at the largest CAGR of 9.1% between 2024 and 2034.
• By Product, the differential pressure (DP) segment held the largest market share of 28.34% in 2023.
• By Application, the power generation segment dominated the global risk analytics market in 2023.
• By Application, the oil & gas segment is projected to expand at the fastest CAGR of 9.2% in the projected period.

Europe Flow Meters Market Size and Growth 2024 to 2034

The Europe flow meters market size is accounted for USD 4.01 billion in 2024 and is projected to be worth around USD 9.37 billion by 2034, poised to grow at a CAGR of 8.85% from 2024 to 2034.

In 2023, Europe dominated the global flow meters market in terms of revenue and followed by the North America. Rising adoption of flow meters in the power generation sector contribute prominently towards the growth of the region. Further, the region is a hub of large number of flow meter manufacturers that include KROHNE Messtechnik, Diehl Metering Germany, Endress+Hausar AG, and ABB. As a result, the region expected to maintain its dominance also during the forecast period.

However, the Asia Pacific encountered as the most lucrative region with a growth rate of around 9.1% during the analysis period. This is mainly due to continuous development in the water and waste water management industry.

Flow Meters Market Growth Factors

Increasing demand for flow measurement devices in the oil & gas application expected to propel the overall market growth in the coming years. The adoption of flow measurement technologies in other sectors as well predicted to gain traction such as power generation, water and wastewater, and pulp and paper over the analysis period. Recently, shale gas reserves were detected in North America, Asia Pacific, and Europe that has significantly spurred the demand of flow meters in chemical & petroleum refinery, and oil & gas sectors.

Integration of Internet of Things (IoT), advanced sensors, digital readouts, and wireless monitoring & control in flow meters have enabled smart metering solutions and anticipated to flourish the market growth over the coming years. Adoption of IoT in flow meters has facilitated automatic meter reading that remotely and automatically collects the data required.

On the other hand, calibration of flow meters consumer large amount time that expected to hinder the growth of the market. Presently, market is trending towards the adoption of speedy and automatic solutions that save time and effort both, thus time consuming solutions in flow meters predicted to restrict its growth.

Market Scope

Product Insights

The differential pressure segment held the dominating share of the flow meters market in 2023. Differential pressure flow meters are versatile and can be used in a wide range of applications across different industries, including oil and gas, water and wastewater, chemicals, pharmaceuticals, and more. This versatility contributes to their widespread adoption. These flow meters offer a wide measurement range, allowing them to accurately measure flow rates across various flow velocities and fluid viscosities. This makes them suitable for both low-flow and high-flow applications.

Differential pressure flow meters have been used for decades and have a long track record of reliability and accuracy. This proven technology instills confidence in users, making them a preferred choice for critical applications where accuracy is paramount.

Application Insights

The power generation segment led the flow meters market in 2023, the segment is observed to witness significant growth during the forecast period. Power generation facilities, including coal, natural gas, nuclear, and renewable energy plants, require precise monitoring of fluid flow rates to ensure optimal operation and efficiency. Flow meters are essential instruments for measuring the flow of water, steam, fuel, and other fluids within power generation systems. Power generation facilities are subject to stringent regulatory requirements and environmental standards. Flow meters help ensure compliance with regulations by accurately monitoring fluid flow rates, emissions, and pollutant levels, enabling operators to maintain environmental compliance and avoid costly penalties.

Flow Meters Market Companies

• Emerson Electric Co.
• ABB Ltd.
• em-tec GmbH
• General Electric
• Endress+Hauser Management AG
• Hitachi, Ltd.
• Höntzsch GmbH
• Honeywell International, Inc.
• KROHNE Messtechnik GmbH
• VSE Volumentechnik GmbH
• Siemens
• Yokogawa Electric Corporation

Segments Covered in the Report

By Product

• Positive Displacement (PD)
• Differential Pressure (DP)
• Vortex
• Ultrasonic
• Magnetic
  • Wireless
  • Wired
• Turbine
• Coriolis
• Others

By Application

• Oil & Gas
• Water & Wastewater
• Power Generation
• Chemicals
• Food & Beverage
• Pulp & Paper
• Others

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Rest of the World